U.S. stocks have steadily climbed today, as the Dow heads for another triple-digit victory. Among other names making noise, gun stock American Outdoor Brands Corp (NASDAQ:AOBC) and biotech stock Anika Therapeutics (NASDAQ:ANIK) are lower, while Chinese mobile app concern Momo Inc (NASDAQ:MOMO) is soaring. Here's a closer look at what shares of AOBC, ANIK, and MOMO are reacting to today.Gun...Read More
Gold is under pressure on the reduced concern of the US inflation. Lower physical demand from India and China is also affecting gold. Gold is trading around $1330, in New York session, edging down by 0.18% on the reduced concerns about the US inflation and subsequent slump in US bond yields on Friday Global bond yields are ticking lower after comments by US policymakers’, downplaying the U...Read More
* Shares in U.S., Europe, Asia all higher* U.S. dollar ticks up, denting euro* Gold heading for biggest weekly drop since December (Adds settled oil prices; updates throughout)By Hilary RussNEW YORK, Feb 23 (Reuters) - World shares rose broadly on Friday, with technology stocks lifting Wall Street, while gold neared its biggest weekly loss this year as investors shrugged off concerns about interes...Read More
CHICAGO, Feb 23 (Reuters) - Debt sales for airports in Houston and Los Angeles are part of$5.43 billion in bonds and notes set to hit the U.S. municipal market next week, according to Thomson Reuters estimates on Friday.Houston's new and refunding subordinate lien deal includes about $135 million of bonds subject to the alternative minimum tax (AMT) with serial maturities from 2019 through 2041 an...Read More
(Adds detail)FRANKFURT, Feb 23 (Reuters) - The European Central Bank has bought enough bonds so that it could retreat from further purchases without risking an unwarranted rise in longer-dated bond yields, ECB executive board member Benoit Coeure said on Friday.Once the bank's purchases hit a critical threshold, it needs fewer additional buys to contain yields at the longer end of the curve and t...Read More
(Adds quotes, updates prices)* Nerves about volatile stock markets seen helping bonds* Month-end demand seen boosting fixed income* Fed chief Powell's testimony in focus next week By Karen BrettellNEW YORK, Feb 23 (Reuters) - U.S. Treasury prices gained on Friday as uncertainty about recent stock market volatility helped boost demand for the bonds and as investors rebalanced portfolios ahead of m...Read More
(Adds hiring of investment bank for potential stake sale)SAO PAULO, Feb 23 (Reuters) - Brazilian online bank Banco Intermedium has hired an investment bank to look for potential buyers for a stake while it also explores an initial public offering, two people with knowledge of the matter said.According to the sources, Inter, as the bank is known, has hired the Brazilian subsidiary of Japan's Nomur...Read More
Gold settled lower Friday, logging its worst weekly decline so far this year as the U.S. dollar bounced back from its earlier weakness. April gold GCJ8, +0.12% fell $2.40, or 0.2%, to settle at $1,330.30 an ounce, falling 1.7% for the week. March silver SIH8, +0.13% slid 10 cents, or 0.6%, to $16.48 an ounce for a weekly drop of 0.8%. Although gold finished out the week in negative territory, th...Read More
Gold settled lower Friday, logging its worst weekly decline so far this year as the U.S. dollar bounced back from its earlier weakness. April gold GCJ8, +0.12% fell $2.40, or 0.2%, to settle at $1,330.30 an ounce, falling 1.7% for the week. March silver SIH8, +0.16% slid 10 cents, or 0.6%, to $16.48 an ounce for a weekly drop of 0.8%. Although gold finished out the week in negative territory, th...Read More
* Dollar index up nearly 1 pct this week* Buying muted in China after New Year break* GRAPHIC-2018 asset returns: (Recasts throughout; updates prices; adds comment, NEW YORK to dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 23 (Reuters) - Gold eased on Friday, heading towards its biggest weekly decline in 2-1/2 months, as the U.S. dollar climbed from last week's three-year low on t...Read More
The holiday-shortened trading week saw mixed price action on Wall Street, with a post-earnings slump for big-cap retailer Walmart (WMT) pressuring the Dow and S&P 500 Index (SPX) toward a third weekly loss out of four -- and putting the indexes comfortably on track to snap their 10-month winning streaks. And while the Nasdaq Composite (IXIC) appears ready to end the week higher as a Friday surge h...Read More
FRANKFURT, Feb 23 (Reuters) - The European Central Bank has bought enough bonds so that it could retreat from further purchases without risking an unwarranted rise in yields, ECB executive board member Benoit Coeure said on Friday."In the future, the Eurosystem can retreat as buyer in the market without risking an unwarranted decompression of the term premium," Coeure told a conference i...Read More
(Adds Gundlach on Mnuchin remarks)NEW YORK, Feb 23 (Reuters) - Jeffrey Gundlach, chief executive of Doubleline Capital, said on Friday that while bond yields seem to "make sense" at current levels, he has a "low conviction feeling" that they could break out to the upside, representing a "clear and present danger."Gundlach, on CNBC television, said commodities are the...Read More
ImmunoGen, Inc. (NASDAQ:IMGN) shares have been on a tear in 2018, advancing more than 75% already this year. What's more, IMGN stock could have room to run, if recent history is any indicator. Meanwhile, fellow biotech Exelixis, Inc. (NASDAQ:EXEL) reports earnings next week, and EXEL stock's recent pullback to a key trendline could mean now is the time to jump on the longer-term uptrend.IMGN Optio...Read More
* Fed sees no risks to change planned pace of rate hikes* Blue Buffalo soars after General Mills' $8 bln buyout* Hewlett Packard Enterprise hits record high on results* Indexes up: Dow 0.58 pct, S&P 0.8 pct, Nasdaq 0.85 pct* Dow, S&P still down for the week; Nasdaq edges higher (Updates to early afternoon)By Sruthi ShankarFeb 23 (Reuters) - Wall Street's main indexes rose on Friday, with g...Read More
TahoeResources Inc. (TSX: THO; NYSE: TAHO), which has been dealing with ashutdown of the giant Escobal silver mine in Guatemala over a mining-licenseissue, posted a loss in the fourth quarter of $18 million, or 6 cents pershare. This compares to 0.3 million, or nil, in the same period a year ago. Theadjusted loss was $17.7 million, a turnaround from an $18.4 million profit ayear ago. For ful...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. (Kitc...Read More
Even as rival Weight Watchers International, Inc. (NYSE:WTW) has surged on the charts, weight loss specialist NutriSystem Inc. (NASDAQ:NTRI) has failed to gain any momentum. The stock is down 23.5% in 2018, last seen trading at $40.25, but it'll have a chance to turn things around with earnings scheduled for after the close on Monday. Unfortunately for shareholders, poor earnings reactions have pl...Read More
In the previous part, we thoroughly analyzed the bull and bear trends in the U.S. dollar. But what about gold cycles? Let’s look at the chart below, which shows the long-term behavior of gold prices. Chart 1: Gold bull and bear cycles (from 1971 to 2018, London P.M. Fix, in $). As one can see, there were only four cycles compared to six in the U.S. dollar: two gold bull markets and two...Read More
SAO PAULO, Feb 23 (Reuters) - Mexican stocks led losses across Latin America on Friday as poor economic growth figures there pushed the benchmark IPC index down almost 1 percent during an otherwise quiet day in the region.Early on Friday, Mexico's national statistics agency said gross domestic product in Latin America's second biggest economy expanded 0.8 percent in the fourth quarter from the pre...Read More